First Gulf Bank PJSC rallied the most in five months after a 14 per cent increase in second-quarter profit buoyed the company’s outlook this year.
First Gulf Bank’s net income rose to Dh1.02 billion from Dh890 million a year earlier. That beat the mean estimate of five analysts, according to data compiled by Bloomberg.
The shares rallied 3.7 per cent, the most since March 1, to Dh9.75 at the close in Abu Dhabi. The stock was the biggest advancer by both index and percentage points on the Abu Dhabi ADX General Index, which rose 0.8 per cent. The stock has been the best-performer on the index in the past month with a gain of 15 per cent and has advanced all but one day since second-quarter results were announced July 24.
No comments:
Post a Comment